Hedera is trading at $0.3127, up by over 6%.
HBAR’s daily trading volume has dropped by over 32%.
The crypto market analysts have anticipations for the 2025 trading pattern. Certain cryptocurrency prices have signaled the bullish sentiment in the market. Turning toward the altcoins, Hedera (HBAR) has shifted gears by spiking over 6.98% in the last 24 hours.
HBAR undergoes bearish pressure in the early hours and marks its daily low at $0.2884. Eventually, the asset chose to trade on the upside, visiting its highest at $0.3114.
At the time of writing, HBAR trades at $0.3127, with its market cap resting at $11.96 billion. Notably, the market has observed a liquidation of $595.70K worth of Hedera and the daily trading volume of HBAR stays at $858 million.
Can HBAR Extend Its Bullish Run?
Hedera’s technical indicators report the in-progress positive outlook. The Moving Average Convergence Divergence (MACD) line has crossed over the signal line. It indicates the bullish momentum and traders often consider this as a signal to enter the long positions.
In addition, the Chaikin Money Flow (CMF) indicator of Hedera is positioned at 0.04, hinting at a positive money flow. It indicates mild buying pressure in the market. Meanwhile, the daily trading volume of HBAR has decreased by over 32.11%.
HBAR’s four-hour trading window displays the chance of further climbing. If HBAR continues to gain on its upside, it might test the initial resistance at $0.3216. Further gains would extend the rally, and the asset could hit a new high at $0.35. mark.
Contrarily, if the bullish momentum diminishes, HBAR could immediately slip below $0.3075. Extended losses might trigger the asset toward a deep correction phase, and could decline even lower.
Moreover, the daily relative strength index (RSI) is hovering around 65.86, indicating the asset’s approach into the overbought zone and buyers are in control. Hedera’s daily frame reveals the short-term 9-day moving average above the long-term 21-day moving average.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Highlighted Crypto News
Is Ethena (ENA) on the Verge of a Bullish Rally?
